Allstate Says Hurricanes Erased
$1.1 Billion of 3rd-Quarter Net

By

Theo Francis Staff Reporter of THE WALL STREET JOURNAL

Updated Oct. 14, 2004 12:01 a.m. ET

This year's four powerful hurricanes wiped out $1.1 billion, or $1.53 a share, of after-tax third-quarter earnings for Allstate Corp., leaving the insurance giant with earnings of nine cents a share, the company said late yesterday.

The insurer's announcement, which came a week ahead of the date it had scheduled to announce earnings, offers investors a preview of the industry's third-quarter earnings season, unrolling over the next few weeks. The Northbrook, Ill., company only reported the per-share earnings number, which...